biote Corp. (NASDAQ:BTMD) Short Interest Down 10.2% in January

biote Corp. (NASDAQ:BTMD - Get Free Report) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 703,200 shares, a drop of 10.2% from the January 15th total of 782,700 shares. Based on an average daily volume of 152,800 shares, the short-interest ratio is currently 4.6 days. Approximately 2.3% of the shares of the stock are sold short.

biote Stock Down 6.1 %

Shares of biote stock traded down $0.29 during trading on Friday, reaching $4.49. The company's stock had a trading volume of 263,956 shares, compared to its average volume of 135,334. The company has a market cap of $243.99 million, a price-to-earnings ratio of 17.27 and a beta of 1.04. The firm's 50-day moving average is $5.54 and its two-hundred day moving average is $5.75. biote has a 52-week low of $4.45 and a 52-week high of $8.44.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum assumed coverage on biote in a report on Monday, December 16th. They issued a "buy" rating and a $12.00 price objective for the company.

Institutional Trading of biote

Several institutional investors have recently added to or reduced their stakes in BTMD. The Manufacturers Life Insurance Company purchased a new stake in biote during the 2nd quarter valued at about $84,000. Victory Capital Management Inc. purchased a new position in biote in the 3rd quarter worth approximately $106,000. MetLife Investment Management LLC boosted its stake in shares of biote by 129.1% during the third quarter. MetLife Investment Management LLC now owns 16,582 shares of the company's stock valued at $93,000 after purchasing an additional 9,343 shares during the period. Wasatch Advisors LP boosted its stake in shares of biote by 8.4% during the third quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company's stock valued at $7,772,000 after purchasing an additional 107,792 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of biote by 24.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 272,377 shares of the company's stock worth $1,520,000 after buying an additional 54,302 shares during the period. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

About biote

biote Corp. operates in practice-building business within the hormone optimization space. It trains physicians and nurse practitioners in hormone optimization using bioidentical hormone replacement pellet therapy in men and women experiencing hormonal imbalance. The company offers Biote Method, a comprehensive end-to-end practice building platform that provides Biote-certified practitioners with the components developed for practitioners in the hormone optimization space comprising Biote Method education, training, and certification services; practice management software that allows Biote-certified practitioners to order, track, and manage hormone optimization product inventory and other administrative requirements; inventory management software to monitor pellet inventory; and information regarding available hormone replacement therapy products, as well as digital and point-of-care marketing support.